Hightlights

• Households will continue to face difficulty in accessing food due to a shortages in market supply owing to high transportation costs and low trader’s stock during the lean season as demand increases. Households’ purchasing power is further worsened by the devaluation of the naira which exchanged for N672 to a dollar in the parallel market on the 31st of July and the year-on-year inflation, which rose to a 17-year high of 19.64 percent in July.

• Prices of staple foods such as rice, maize, and millet in Borno and Yobe states in July 2022 were stable against relative increases in June. This relative stability is observed rather against the background of substantial year-on-year increases in staple food prices in both states, in particular, local rice and groundnut increased by 19 percent in MMC and 16 percent in Jere markets as households’ stock level and market supply continue to deteriorate at the crest of the planting season.

• The cost of a survival minimum expenditure basket (SMEB) for a family of five in Maiduguri and Damaturu is 29,365 naira and 26,987 naira correspondingly, in July representing a two percent increase in Maiduguri and five percent in Damaturu compared to its value in June. Please see page 3 for SMEB values in other BAY states locations.